Blended public and private debt capital finance organisation the Emerging Africa and Asia Infrastructure Fund (EAAIF) has successfully raised $325-million in new debt facilities, which will help enable $1-billion of investment by the Fund in next-generation infrastructure across Africa and Asia by 2028.

The new debt finance package will support the EAAIF's ambition to generate sustainable development impact and deliver positive returns.

The company's investment strategy targets assets that advance digital economies, scale transition infrastructure and reshape power markets. The EAAIF is a subsidiary of infrastructure development and finance organisation Private Infrastructure Development Group (PIDG) company and is managed by investment management company Ninety One.

The new debt package builds on the EAAIF's $294-million capital raise secured in 2024. The new funding brings recent commitments to $620-million and exceeds the Fund's $500-million target ahead of schedule.

Investment management firm Allianz Global Investors (AGI) committed €100-million to the EAAIF, financial services firm Absa provided $75-million and financial services firm Standard Bank contributed an additional $50-million to facilities already provided.

Japanese multinational bank Sumitomo Mitsui Banking Corporation (SMBC) extended a $50-million credit facility, while Sweden development finance institution Swedfund allocated €40-million.

“This [new debt raise] demonstrates the fund's ability to mobilise a global community of public and private investors united by a shared purpose of channeling capital, innovation, and expertise to expand infrastructure debt markets in Africa and Asia,” the EAAIF says.

“These successful subsequent debt raises highlight global investors’ confidence in the EAAIF's ability to create attractive investment solutions that seize untapped opportunities in fast-growth markets.

“By strengthening our capital base and diversifying our funding sources, we are favourably positioned to drive business growth and economic transformation through private infrastructure debt investment in pioneering infrastructure,” says Ninety One emerging market alternative credit co-head and EAAIF MD Martijn Proos.

Meanwhile, the successful debt raise comes at a critical time. The Asia Pacific region alone faces a shortfall of at least $800-billion in climate financing, while around 23% of Africa's climate finance needs are currently met, the EAAIF notes.

Action on climate is at the heart of PIDG’s strategy, which aims to improve economic resilience and climate opportunities for 100-million people by 2030.

As one of Africa's longest-serving infrastructure debt providers, the EAAIF draws on the group's whole life-cycle approach, spanning project development, financing, and long-term sustainability, to transform economies and improve lives, while delivering meaningful action on climate adaptation, resilience, and mitigation.

Since its inception in 2001, the EAAIF has committed more than $3-billion to more than 125 infrastructure projects across 25 countries and ten sectors in Africa and Asia.

In 2024, Moody's reaffirmed the fund's foreign currency long-term issuer rating of A2 with a stable outlook and minimal default rate, reinforcing its position as a leading instrument for investors seeking investment protection, returns, and exposure to Africa and Asia's growing infrastructure asset class.

“As a PIDG company, EAAIF is driven by a vision of delivering essential infrastructure that unlocks economic opportunities in the markets where we invest. This debt raise is a significant step forward for PIDG, which aims to deliver $9-billion in new commitments for infrastructure and mobilise $25-billion in additional finance by 2030,” says PIDG CEO Philippe Valahu.

“As we continue this journey alongside our partners, we develop innovative mobilisation strategies across the project lifecycle to deliver progress in the regions where we operate,” he adds.